Published September 16, 2018, 10:00
PM By Myrna
M. Velasco
As there had been no qualified
submission in the last auction, the Department of Energy (DOE) announced that
it will rebid the consulting contract for the petroleum data management
services of the country’s offer of new petroleum blocks that may yield
investments of up to $2.4 billion at their pre-development phases.
According to Energy Assistant
Secretary Caron Aicitel E. Lascano, the next round of bidding is tentatively
scheduled by the end of this month. Foreign firms are generally targeted for
this type of consulting services.
The petroleum data that shall be
managed by the consultant will cover the 14 pre-determined areas (PDAs) that
the Department of Energy (DOE) will be offering to investors via the Philippine
Conventional Energy Contracting Program (PCECP) of the country.
The 14 blocks straddle offshore
areas in Cagayan, East Palawan, West Luzon, Sulu and Agusan-Cotabato basins –
covering a total of 73,576.66 square kilometers.
It will entail deep water drilling
in at least six services areas; and eight in shallow water block-offers.
Petroleum data management often
necessitates identifying, consolidating, transferring and interpreting
information so it could enhance prospects for investments flow in particular
oil and gas blocks being tendered.
The PCECP, which is the country’s
modified petroleum contracting paradigm has two-pronged approach: one is
year-round submission of the preferred blocks of investors; while the other
will be competitive submission of offers on the 14 pre-determined blocks.
In the latest road show undertaken
by the energy department in Singapore, it was able to corner the preliminary
interest of at least 18 prospective foreign investors; while most of the
unsolicited proposals came from local companies.
The initial unsolicited proposals
received by the department had been from the Toquero Group, a consortium of
Western Sulu Gulf Oil Corp., Sulubasin Oil and Gas Corporation; Seabed Crescent
Energy Corporation and Offshore Celebes Energy Corporation; while two others
are sponsored by Constellation Energy Corporation.
According to the DOE, “there are
also companies that show interest to apply in Ragay Gulf, West Luzon and
Philippine Rise areas,” but these firms have yet to formalize their
applications.
As noted by Energy Undersecretary
Donato D. Marcos, there are a lot of “rookie players applying for underexplored
areas.”
He added “we are expecting more of
this kind of applications after the settlement of the Bangsamoro Organic Law,
especially in the Mindanao area.”
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